Shares in SuperGroup (SGP) jumped 10 per cent as the retailer reported better-than-expected first-quarter trading. A combination of strong comparatives, shortages of key spring/summer ranges and a competitive market meant like-for-like retail sales were forecast to fall by at least 4 per cent in the period - but they declined by 3.7 per cent instead.
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Even more encouraging was news that trading has improved over the first 18 weeks of the year, with like-for-like retail sales down 1 per cent. That implies 5 per cent underlying growth in the last month. Meanwhile, wholesale revenue was up by a fifth, and the order book for the autumn/winter collections closed 10 per cent higher.
